Tuesday, 26 March, 2019


Homeowners preparing to pay more following interest rate hike

Image of Bank of Canada calendar Homeowners preparing to pay more following interest rate hike
Conrad Doyle | 13 July, 2018, 02:01

Royal Bank (RY.TO), TD Canada Trust (TD.TO), BMO (BMO.TO), CIBC (CM.TO), National Bank (NA.TO), and Scotiabank (BNS.TO) all say they will increase their prime rate by a quarter of a percentage point to 3.70 per cent, effective Thursday.

But Mortgages of Canada CEO Samantha Brookes says those with variable-rate mortgages will now face higher interest payments, a concern for many Canadian households that are already saddled with hefty debt loads.

Recent signals from the Bank of Canada governor, combined with strong economic data, have experts widely predicting Poloz will raise his trend-setting rate Wednesday from its current level of 1.25 per cent. Overall, the Bank still expects average growth of close to 2 per cent over 2018-2020.

However, the negative blow of the trade policies recently put in place are to be largely offset by the positives for Canada from higher oil prices, which are above US$73 per barrel, and the stronger USA economy, the bank said.

Another hike this week would come with Canada facing a number of trade-related uncertainties, including NAFTA talks, USA steel and aluminum tariffs and the threat of more duties on the economically critical automotive sector.

The Bank of Canada also has its eye on how widening global trade disputes, including an intensifying battle between the US and China, will affect the world's economy.

It was reasonable to think at the beginning of the year that the unknowns surrounding NAFTA talks could pause business investment and lead to a decline in activity, he said.

The Bank of Canada's quarterly update predicts the economy will show growth in 2019 and 2020, a better outlook than what was forecast in April.

Poloz also signaled he was comfortable with how financial markets were interpreting the central bank's message, noting the hike was "highly anticipated". It also said underlying wage growth has been weaker than what would normally be expected in a tightened job market. It's expected to settle back down to two per cent in the second half of 2019.

Recommended

loading...
...
  • Anti-Trump FBI lawyer snubs congressional subpoena

    Anti-Trump FBI lawyer snubs congressional subpoena

    If she wants to come plead the Fifth that's her choice, but a subpoena to testify before Congress is not optional, it's mandatory. Two House panels are set to interview former Federal Bureau of Investigation lawyer Lisa Page in a closed door meeting.
    Federal Bureau of Investigation  agent says his 'blunt' criticism of Trump never impacted his work

    Federal Bureau of Investigation agent says his 'blunt' criticism of Trump never impacted his work

    The text and emails may have been discovered in May of 2017, but the bias existed and was manifest a year and a half before that. House Speaker Paul Ryan (R-WI) echoed Goodlatte's ultimatum during a press conference Thursday.
    Samira has walked out of 'Love Island'

    Samira has walked out of 'Love Island'

    I'm feeling 100% Frankie and even if that sounds like too much or whatever, I know that, that is who I am and that is what I want. She sobbed as he departed and has spent three days moping around the villa and looking at photos of them together.
  • Here's Where Prince Harry And Meghan Markle Ate In Dublin Yesterday

    Here's Where Prince Harry And Meghan Markle Ate In Dublin Yesterday

    The senator deleted the tweet not long after, following replies from her followers about the royal rule Meghan had broken. The well-wisher recalled about the fun communication that she had shared with the royal couple in Dublin, recently.

    Campaign Underway To Get Green Day's 'American Idiot' To UK Number One

    So far the effort appears to be working, with the song checking in at No. 18 on the chart Tuesday. Bush era, though it's applicable to all future American idiots , " writes Vulture ".

    North Korean Delegation Reportedly Doesn’t Show Up For Meeting With U.S

    South Korea's urbanisation is one reason why more than a 1000 American service members are unaccounted for, said McKeague. Now, however, the mood in Pyongyang appears to be more conciliatory, with Kim keen for another meeting with Trump.
  • Sony's Xperia XA2 Plus is a mid-ranger that's

    Sony's Xperia XA2 Plus is a mid-ranger that's "designed to entertain"

    On the connectivity front, it features 4G VoLTE, Wifi, Bluetooth 5.0, NFC, USB Type-C port and 3.5 mm headphone jack. No word on pricing, just a general late August release date and lovely silver, black, gold and green colors.
    IPhone Is The Most Common Symbol Of Wealth, Shows New Research

    IPhone Is The Most Common Symbol Of Wealth, Shows New Research

    Interestingly, in 1992, using Grey Poupon Dijon mustard was 62.2 percent indicative of having a higher income. IF YOU are one of the millions of Aussies who own an iPhone, congratulations - you're officially wealthy.
    Fossil of new dinosaur species discovered in Argentina

    Fossil of new dinosaur species discovered in Argentina

    Its growth was fuelled by bird-like lungs that would have made it remarkably light on its feet considering its vast size. Gigantism evolved in most of the dinosaurs, especially herbivores, providing them with protection against carnivores.
  • AirPlay 2 makes Sonos the best audio option for most iPhone owners

    AirPlay 2 makes Sonos the best audio option for most iPhone owners

    Sonos' big-sound-in-small-speakers design has won praise , along with loyalty of some users who install them in multiple rooms. Setting up AirPlay 2 on Sonos unlocks another exciting new feature: You can now use Siri to control Apple Music on Sonos.
    Fortnite: Real Life Loot Llamas Appear in Europe

    Fortnite: Real Life Loot Llamas Appear in Europe

    The image is of an Egyptian cat-like mask with the famous portal rift, that's seen all over the Fortnite map, indenting the mask. So far, Fortnite fans have seen Llamas in London, Cologne, Barcelona , Poland , and Cannes, France .
    Former Sussex schooolboy suffers World Cup semi-final heartbreak

    Former Sussex schooolboy suffers World Cup semi-final heartbreak

    Jamie Redknapp has graded the England players after the heartbreaking Croatia loss and gave attacking midfielder Dele Alli a 7/10. That goal was cancelled out by a second-half Ivan Perisic equalizer to ensure the sides were tied at 1-1 after 90 minutes.

Apple may be launching a mountain of new hardware in the fall Apple may be launching a mountain of new hardware in the fall The simply named Blackmagic eGPU costs $699 and comes equipped with Radeon Pro 580 graphics clocked at 1,200MHz. Apple had said it was not a safety issue and had offered worldwide free replacement for such batteries.

Wimbledon men's semi-finals -- five facts Wimbledon men's semi-finals -- five facts A few hours earlier, however, it looked as if it was going to be 32-year-old Nadal who would end up down and out. Anderson made his breakthrough last September by reaching the US Open final, where he lost to Nadal.

Fortnite Season 5 Update Downtime Officially Revealed by Epic Games Fortnite Season 5 Update Downtime Officially Revealed by Epic Games What are you most looking forward to in Fortnite Season 5? Tell us in the comments section! Fortnite is available now for Nintendo Switch, iOS, PC, PlayStation 4, and Xbox One.

Samsung Note 9 Release Date leaked Samsung Note 9 Release Date leaked As we get closer to Samsung's Unpacked press conference on August 9th, we're bound to see even more Note 9 leaks... like this one. It will keep doing that with the new flagship which may offer additional productivity features courtesy of the new S Pen.

The Microsoft Surface Go Will Start at $400. Is That a Deal? The Microsoft Surface Go Will Start at $400. Is That a Deal? There are Chromebooks that cost around the same as the Surface Go and provide better battery life. The Surface Go features USB-C, a headphone jack, a Surface Connect port and a microSD slot.

Dejan Lovren Says He's One Of The Best Defenders In The World Dejan Lovren Says He's One Of The Best Defenders In The World There is too much criticism about me. "But whatever, this is what gets me to work hard and prove everyone wrong". We beat our record of 20 years ago and we had it on our shoulders all the time, this weight.

Trump dodges London protests for tea with Queen Elizabeth In a statement, the group said it was a "victory that Donald Trump does not appear to have any official engagements in London ". A helicopter took them from the airport to the USA ambassador's residence here.

Thai Boys Wave to the World in First Video Since Their Rescue Thai Boys Wave to the World in First Video Since Their Rescue It was the sudden onset of that rainy season that trapped the boys deep underground while they were exploring. Doctors were anxious about potential infections the children could have contracted in the cave.

See how fans celebrated Croatia's World Cup semifinal win in Zagreb See how fans celebrated Croatia's World Cup semifinal win in Zagreb England aren't exactly known for their success in penalty shootouts at a World Cup. But even though England are out, they've still had an incredible tournament.

2nd man charged in rapper XXXTentacion's killing 2nd man charged in rapper XXXTentacion's killing Did rapper foreshadow own death? Remember, you can always remain anonymous, and you may be eligible for a $3,000 reward. Another suspect Dedrick Williams , 22, was charged last month with first-degree murder and is now in police custody.

Man discovers wife, her mechanic lover dead following sex, reports say Man discovers wife, her mechanic lover dead following sex, reports say Johnson told WABC he blames the apartment complex. "She was everything to me". "I just want my mother back". The husband came home later to discover their bodies.

Governor, union president honor Capt. Cory Barr, victim of Sun Prairie explosion Governor, union president honor Capt. Cory Barr, victim of Sun Prairie explosion He said they both served on a downtown business committee. "He'd give the shirt off his back", wife Abby Barr said. Barr had been with the department at least 10 years, Sun Prairie Fire Chief Christopher Garrison said.

Trump forces North Atlantic Treaty Organisation allies to boost defence spending Trump forces North Atlantic Treaty Organisation  allies to boost defence spending Meanwhile, the Wall Street Journal reported Trump as saying "I'll do my own thing" if spending is not immediately increased. Is he your friend? "I'm a very stable genius".

‘Game of Thrones’ earns a leading 22 Emmy Award nominations ‘Game of Thrones’ earns a leading 22 Emmy Award nominations The 2018 Primetime Emmy nominations will be announced Thursday, July 12 at 11:30 a.m. The 70th Primetime Emmy Awards ceremony will air live Monday, Sept. 17 on NBC.

Kenedy finishes medical ahead of Newcastle loan Kenedy finishes medical ahead of Newcastle loan But Kenedy would still prefer Newcastle for there he could play a full season on the pitch rather than on the bench. His long-term future at Chelsea is uncertain, particularly due to the confusing managerial situation at the club .